Chaldal, the largest online grocery startup in Bangladesh, has acquired e-pharmacy startup BanglaMeds for an undisclosed sum. BanglaMeds founder and CEO Gazi Musayab Raffan made the announcement of the acquisition in a social media post today. As part of the deal, Mr. Raffan will continue to run the company as its CEO under Chaldal ownership.
"By the grace of Almighty Allah, I am delighted to announce that BanglaMeds has been fully acquired by Chaldal," writes Mr. Raffan in a social media post. "While such acquisition is rare in Bangladesh, even rarer is the fact that BanglaMeds will be giving a successful complete exit to every single of her investors, which is a pretty big deal. I am eternally grateful to every single of the lovely people who supported me on my entrepreneurial journey, I won't be tagging anyone, but those who know, know. As for me, I will be working as the CEO of BanglaMeds under Chaldal ownership and hopefully take it to the heights that I had envisioned four years ago, in sha Allah."
As Chaldal solidifies its lead in the online grocery vertical and expands into more cities, the company has been looking to expand into new verticals. In September, Chaldal raised $10 million in a Series C funding round with an ambition to expand across Bangladesh and develop its other product offerings. In its fundraising announcement, Chaldal in fact mentioned that it "aims to expand the coverage of its on-demand delivery service GoGo Bangla Limited, grow Chaldal Vegetable Network, and launch a direct-to-consumer pharmacy."
With the acquisition of BanglaMeds, Chaldal follows through on that ambition.